Kim Kardashian has kicked off 2021 with a $200 million windfall after selling off 20% of her KKW Beauty brand to Coty executives.
The move comes a year after her sister Kylie Jenner sold 51% of her Kylie Cosmetics and Kylie Skin brands to the company for $600 million, becoming the highest-paid celebrity of 2020 in the process.
Announcing the big sale on Tuesday (January 5th) Kim said: “I’m so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world.
“This relationship will allow me to lead the development of the creative elements that I specialize in while benefiting from the incredible resources of an established company like Coty.”
Coty CEO Sue Y. Nabi added: “Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation… Kim brings a huge global following and unparalleled influence over consumer choice.”